Large consumer base and increasing demand from beverage industry is significantly driving the growth of global market for PET stretch blow molding machines. PET stretch blow molding machines of two-step will prove economically beneficial in the forthcoming years. However, growing preference for bio-based products and flexible packaging can pose challenges for the global market.
A recent study by Future Market Insights anticipates a sluggish 2.2% CAGR growth of the global market for PET stretch blow molding machines, during the period, 2017-2027. The global market is likely to reach an evaluation of over US$ 800Mn by 2027-end. Developing convenient and resourceful PET stretch blow molding machines for the end-users, will be an important trend influencing the growth of PET stretch blow molding machines in the forthcoming years. The study further delivers useful landscapes for the growth of global market for PET stretch blow molding machines.
The analysts involved in the development of this report have offered beneficial insights on how global market for PET stretch blow molding machines, will grow through 2027. In addition, analysts have responded to the key concerns of the industry owners and market viewers.
According to you, what are the factors driving the growth of the global market?
Increasing demand for products that are stretch blow molded, is observed across several industries, which has led to surging demand for PET stretch blow molding machines. Economic benefits are provided by PET stretch blow molding machines of two-step compared to single-step machines.
What are the manufacturers currently working on that would drive production sales in the near future?
Manufacturers are multiplying their investments on the development and design of PET stretch blow molding machines by integrating feed lines and blowing cavities. They are also working on the compatibility of machines, which would be flexible enough for usage by the end-users. Manufacturers are developing products in a way that it can withstand pasteurization or high temperature process.
Which industry do you think can be lucrative in the near future for the global market?
According to our analysts, the cosmetics and personal care industry will prove lucrative for the global market in the near future.
Why according to you is there an increasing demand for PET stretch blow molding machines in the beverage industry?
Well, PET stretch blow molding machines are mainly utilized for producing bottles and there has been a considerable demand from the beverage industry. Growing inclination towards bottled water compared to soft drinks due to rising health conscious consumers is further stimulating the demand for these machines.
Can you identify the factors hampering the growth of global market for PET stretch blow molding machines?
Yes. High costs involved in the production of large volume outputs in a single process, is posing a major challenge towards the market growth. Small-scale businesses in the rural regions are mainly affected with this high cost compared to big manufacturers. This keeps the small-scale players away from entering into the global market.
Can you enlist major players in the global market for PET stretch blow molding machines?
Yes. Certainly. The major players profiled by our analysts include Krones AG, Guangzhou Tech-Long Packaging Machinery Co., Ltd., Pet All Manufacturing Inc., PARKER PLASTIC MACHINERY CO., LTD. and SIPA S.p.A. By introducing innovative PET stretch blow molding machines, the major players are aiming at attaining a competitive spot in global market for PET stretch blow molding machines.
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